Operation Economic Outcast is a U.S. Treasury-led, whole-of-government economic campaign against Iran and its enablers that Treasury Secretary Scott Bessent launched on August 24, 2026. The announcement expanded secondary-sanctions exposure by issuing sectoral determinations covering digital assets, technology, gold, aviation, and shipping, and it designated nearly 60 entities, individuals, and vessels tied to Iran-linked networks. OFAC also suspended several general licenses that had authorized certain remittances and cultural or academic access involving Iran, as part of what Bessent called an effort to sever the regime’s financial lifelines.
Source: U.S. Department of the Treasury press release (Aug. 24, 2026)